Track Vendor Purchase Payments

Checkout creates General Journal Entries for AccountEdge or
QuickBooks. Because these General Journal Entries are not attached
to a Vendor card within AccountEdge (or QuickBooks), users are
unable to track terms or payments associated with the purchase in
the accounting software.

In AccountEdge, there are two ways to record, track, pay and
report vendor purchases created in Checkout. The first is to simply
use Spend Money transactions, paying the vendor from the regular
cash account, posting the payment to the Accounts Payable account.
This will have the effect of reducing both the cash and AP accounts
by the amount of the transaction. Payments will not be recorded in
the History area of the vendor card, nor will they be available in
the Vendor Payment History report (Purchases > Payments). The
payments will be shown as part of the total amount paid to the
vendor in the Vendor Payments report (Purchases > Payments).

The other method requires the use of an intermediate liability
account. Checkout would be configured to post purchases to this
account. In AccountEdge, a bill would be created representing the
Checkout purchases. The bill would be posted to the intermediate
account. The layout would be Service or Professional. Information
in the description field would reference the Checkout purchase.
This will reduce the liability in the intermediate account,
increasing it in Accounts Payable. When the bill is paid, the the
cash and AP accounts will be reduced by the amount of the
transaction.

The benefits of this second method include the ability to track
AP vendor purchases created in Checkout, vendor payment reporting,
and recording of vendor payment history.

No special steps are required to implement the first method. The
following steps are required to implement the second method:

In AccountEdge

Create a new Liability Account for the Checkout general journal
entries (under the Accounts Payable header account if that header
account exists). Name this account AP Checkout.

In Checkout

Configure Checkout to post purchases to the AccountEdge AP
Checkout account. Do this by setting the the creditors account in
Checkout to AP Checkout.

After the Journal Entries are imported into AccountEdge, bills
can be created representing the Checkout purchases.